Bitcoin Stalls Near $83,000 as ETF Inflows Dry Up Fast
By Damilola Esebame
AI summary of the source article
Bitcoin traded near $82,500 after US spot bitcoin ETF inflows dropped over 95% from $526.60 million to $23.16 million in one session. The sudden slowdown in institutional capital has heightened pressure on the rally above $83,000.
Why it matters
A market that depends on a single product, IBIT, for more than 100 percent of net daily inflows is vulnerable to even a brief pause in BlackRock allocations.
Key facts
- Spot bitcoin ETF inflows dropped from $526.60 million on October 19 to $23.16 million on October 20.
- Cumulative net inflows into US-listed spot bitcoin ETFs reached $57.43 billion, with total net assets at $106.28 billion.
- BlackRock's IBIT pulled $665.2 million in one session, while Fidelity's FBTC and Grayscale's GBTC saw outflows of $83.6 million and $54.9 million, respectively.
Source excerpt · FinanceFeeds
Bitcoin traded near $82,500 on October 21 after spot ETF inflows plunged from $526.60 million to just $23.16 million in one session. The collapse in fresh capital rattled traders who had leaned on institutional flows to sustain the rally above $83,000. Cumulative net inflows into US-listed spot bitcoin ETFs now stand at $57.43 billion, with total net assets reaching $106.28 billion, according to S…